Applied Industrial Technologies (NYSE:AIT) Stock Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Applied Industrial Technologies shares broke above their 200-day moving average, reaching $348.18 and last trading near $343.39, compared with a 200-day average of $316.69.
• Analysts remain broadly positive, with a consensus “Buy” rating and a $400 price target; Bank of America, DA Davidson, and Robert W. Baird recently raised their targets.
• The company exceeded quarterly expectations, reporting $3.17 in earnings per share versus a $2.92 consensus estimate and $1.35 billion in revenue. Institutional investors own 93.52% of the stock, while two insiders recently sold shares.

Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $316.69 and traded as high as $348.18. Applied Industrial Technologies shares last traded at $343.3850, with a volume of 268,208 shares traded.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Bank of America upped their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. DA Davidson increased their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 14th. Robert W. Baird increased their target price on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Finally, Wall Street Zen lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Buy" and a consensus target price of $400.00.

Applied Industrial Technologies Stock Up 1.2%

The stock has a 50-day moving average of $337.13 and a 200 day moving average of $316.69. The company has a market capitalization of $12.61 billion, a PE ratio of 31.33, a P/E/G ratio of 2.72 and a beta of 0.85. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 11.96 EPS for the current year.

Insider Activity

In related news, CFO David Wells sold 1,812 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the transaction, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Wallace sold 1,904 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total transaction of $648,216.80. Following the sale, the director owned 22,859 shares of the company's stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently modified their holdings of AIT. BlackRock Inc. purchased a new position in Applied Industrial Technologies during the second quarter valued at approximately $1,336,805,000. First Trust Advisors LP lifted its stake in Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company's stock worth $259,706,000 after purchasing an additional 249,961 shares in the last quarter. Capital International Investors lifted its stake in Applied Industrial Technologies by 25.4% in the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company's stock worth $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Norges Bank bought a new position in Applied Industrial Technologies in the 4th quarter valued at $125,044,000. Finally, Capital World Investors grew its position in shares of Applied Industrial Technologies by 3.7% during the 4th quarter. Capital World Investors now owns 348,005 shares of the industrial products company's stock valued at $89,357,000 after purchasing an additional 12,386 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is a distributor and value-added service provider of industrial products and engineered solutions. The company supplies products used to maintain, repair and operate manufacturing, processing, infrastructure and other industrial facilities, including bearings, power-transmission components, fluid-power equipment, industrial motion products, automation technologies, safety products and related supplies.

In addition to distributing products from leading manufacturers, Applied Industrial Technologies provides technical support, engineering, fabrication, repair and maintenance services.

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